Affluent, educated, with high expectations for professionalism and serious investment opportunities: this is the profile of Greek Golden Visa buyers, according to a recent report from the Ministry of Migration documenting Golden Visa scheme trends in the first quarter of 2024. The data shows a dramatic surge in applications from the very beginning of the year, leading to a whopping 12, 463 residence permits issued in January, with the number of Turkish investors increasing by 6.4% and Chinese interest at a steady high.

Lebanese nationals are a new entry for Greece with 637 permits, with Britons following suit, motivated by the right of free movement within the European Union, a privilege lost in the fallout of Brexit. Greece also seems to be filling the gap left by the abolition of the Spanish Golden Visa and substantial regulatory changes to the Portuguese Golden Visa program, which will see new investors move to depopulated, less desirable areas.

China, Turkey, Lebanon, Iran, the UK, Egypt, USA, Israel, Russia and Ukraine are the top ten countries when it comes to investor provenance, totaling over €4.3 billion between 2021 and 2023 in funds generated through the Golden Visa scheme. The data suggests that individuals looking to secure a Greek residence permit prioritize location, are not concerned with energy performance ratings and mainly use the properties bought as a means of passive income by renting them out to third parties.